Unemployment

LONDON MARKETS: U.K. Stocks Rise For 3rd Day As Manufacturing Data Hits 4-month High.
Benchmark on course for weekly win; miners extend gains U.K. stocks climbed for a third straight session on Friday, on track to cement their winning run for the week, after better-than-expected manufacturing data and ahead of the closely watched U.S. jobs report.
The FTSE 100 index traded 0.3% higher at 7,453.27, building on a 0.9% rally from Thursday (http://www.marketwatch.com/story/ftse-100-bounces-back-from-1-week-low-as-north-korea-fears-ease-2017-08-30).
The London blue-chip benchmark is now set for a 0.7% weekly advance, as initial worries about a North Korean missile test at the beginning of the week eased and attention turned to upbeat data from China and the U.S. On Friday, Markit delivered encouraging data for the U.K., with the August manufacturing purchasing managers index jumping to a four-month high of 56.9, compared with an upwardly revised 55.3 in July.
Economists had expected a reading of 55.
The pound erased its intraday loss after the PMI figures, buying $1.2933, in line with its trading level late Thursday in New York, and up from $1.2920 ahead of the data.
In line with the continued growth in employment, we expect further declines in the unemployment rate over time,” analysts at Danske Bank said in a Friday note.
Read:August employment report likely to show U.S. kept pumping out jobs in late summer (http://www.marketwatch.com/story/august-employment-report-likely-to-show-us-kept-pumping-out-jobs-in-late-summer-2017-08-31) Also read:August jobs data marks crucial test for U.S. dollar (http://www.marketwatch.com/story/august-jobs-data-marks-crucial-test-for-us-dollar-2017-08-30) Stock movers: Miners posted some of the biggest gains in London as metals rose across the board.
Shares of Antofagasta PLC (ANTO.LN) gained 1.5%, Glencore PLC (GLEN.LN) put on 1.2% and Anglo American PLC (AAL.LN) added 1%.
(END) Dow Jones Newswires September 01, 2017 07:24 ET (11:24 GMT)

Jobs report misses, unemployment rate climbs.
The US economy added 156,000 jobs in August, fewer than expected, while the unemployment rate ticked up from a 16-year low to 4.4%.
Economists had forecast that the pace of job creation in America slowed last month, to a net total of 180,000 nonfarm payrolls, according to Bloomberg.
Job gains in July were revised lower.
Manufacturing stuck out as a strong sector last month, adding 36,000 payrolls.
Retail hiring increased for a second straight month, but by just 800 jobs, amid mass store closures.
Wage growth was expected to pick up slightly but remain sluggish.
That’s partly because baby boomers are retiring and being replaced by young workers with low-paying jobs, but it’s still puzzling since the unemployment rate is so low.
Average hourly earnings rose 0.1% month-on-month, softer than expected, and 2.5% year-on-year, both weaker than expected.
The Bureau of Labor Statistics noted that Hurricane Harvey had “no discernible effect” on the jobs numbers because it conducted the survey for its report before the storm.

French labor overhaul met with muted criticism.
The changes, which the government plans to pass by decree later this month, revise a thicket of rules and worker protections that businesses say discourage hiring and complicate negotiating work conditions with employees.
Their unveiling marks a moment of truth for Mr. Macron, who has swiftly lost public support since sweeping into office four months ago.
Union leaders who met with the government Thursday were critical of the overhaul but stopped short of all-out opposition.
In a victory for the government, however, he said the CFDT wouldn’t join a street protest planned by the far-left CGT union on Sept. 12.
Mr. Macron has made changing labor rules a condition for reaching a “new deal” with Germany and other European Union countries to revamp the bloc’s economic architecture and equip it with shared financial backstops to resist economic shocks.
French unemployment stands at 9.5% — more than twice the rate in Germany.
A more competitive French economy, Mr. Macron says, would help convince Germany and other wealthy eurozone economies to boost spending and better shelter the currency union from a repeat of the debt crisis that has hammered southern European countries in the last seven years.
Of the main unions, only the far-left CGT is calling for strikes and demonstrations.
Business leaders called on the government to allow companies with up to 300 employees to bargain directly with nonunionized workers, awakening union fears of being sidelined.

LONDON MARKETS: U.K. Stocks Rise For 3rd Day Ahead Of PMI Report, U.S. Jobs Data.
Benchmark on course for weekly win; miners extend gains U.K. stocks climbed for a third straight session on Friday, on track to extend its weekly winning run ahead of manufacturing data and the closely watched U.S. jobs report.
The FTSE 100 index traded 0.2% higher at 7,444.31, building on a 0.9% rally from Thursday (http://www.marketwatch.com/story/ftse-100-bounces-back-from-1-week-low-as-north-korea-fears-ease-2017-08-30).
A strong jobs report is seen as strengthening the case for the U.S. central bank to raise interest rates again in December. “Focus remains on the unemployment rate and wage growth as these remain crucial for the Fed’s decisions on quantitative tightening.
In line with the continued growth in employment, we expect further declines in the unemployment rate over time,” analysts at Danske Bank said in a note on Friday morning.
The pound bought $1.2914 ahead of the report, down from $1.2931 late Thursday in New York.
Read:August employment report likely to show U.S. kept pumping out jobs in late summer (http://www.marketwatch.com/story/august-employment-report-likely-to-show-us-kept-pumping-out-jobs-in-late-summer-2017-08-31) Stock movers: Miners posted some of the biggest gains in London as metals rose across the board.
Shares of Antofagasta PLC (ANTO.LN) gained 1.5%, Glencore PLC (GLEN.LN) put on 1.2% and Anglo American PLC (AAL.LN) added 1%.
(END) Dow Jones Newswires September 01, 2017 03:54 ET (07:54 GMT)

The changes, which the government plans to pass by decree later this month, revise a thicket of rules and worker protections that businesses say discourage hiring and complicate negotiating work conditions with employees.
Their unveiling marks a moment of truth for Mr. Macron, who has swiftly lost public support since sweeping into office four months ago.
He has been consulting with France’s unions for months in a bid to contain street protests that undermined previous efforts to lower France’s chronically high unemployment.
Union leaders who met with the government Thursday were critical of the overhaul but stopped short of all-out opposition.
In a victory for the government, however, he said the CFDT wouldn’t join a street protest planned by the far-left CGT union on Sept. 12.
Mr. Macron has made changing labor rules a condition for reaching a “new deal” with Germany and other European Union countries to revamp the bloc’s economic architecture and equip it with shared financial backstops to resist economic shocks.
French unemployment stands at 9.5% — more than twice the rate in Germany.
A more competitive French economy, Mr. Macron says, would help convince Germany and other wealthy eurozone economies to boost spending and better shelter the currency union from a repeat of the debt crisis that has hammered southern European countries in the last seven years.
Of the main unions, only the far-left CGT is calling for strikes and demonstrations.
Business leaders called on the government to allow companies with up to 300 employees to bargain directly with nonunionized workers, awakening union fears of being sidelined.

U.K. stocks rise for 3rd day ahead of PMI report, U.S. jobs data.
U.K. stocks climbed for a third straight session on Friday, on track to extend its weekly winning run ahead of manufacturing data and the closely watched U.S. jobs report.
The London blue-chip benchmark is now set for a 0.6% weekly advance, as initial worries about a North Korean missile test at the beginning of the week eased and attention turned to upbeat data from China and the U.S. On Friday, more data from the U.S. as well as the U.K. will be in focus.
At 9:30 a.m. London time, or 4:30 a.m. Eastern Time, the August manufacturing purchasing managers index for the U.K. is due and forecast to show a slight pullback to 55.0 from 55.1 in July.
At 1:30 p.m. London time, the top-tier nonfarm payrolls report for the U.S. is on the docket, with investors eager to get a snapshot of the health of the American labor market to gauge the next move from the Federal Reserve.
A strong jobs report is seen as strengthening the case for the U.S. central bank to raise interest rates again in December.
“Focus remains on the unemployment rate and wage growth as these remain crucial for the Fed’s decisions on quantitative tightening.
In line with the continued growth in employment, we expect further declines in the unemployment rate over time,” analysts at Danske Bank said in a note on Friday morning.
The pound GBPUSD, -0.1083% bought $1.2914 ahead of the report, down from $1.2931 late Thursday in New York.
Read: August employment report likely to show U.S. kept pumping out jobs in late summer

Eurostat reported that annual consumer price inflation picked up to 1.5 percent from July’s 1.3 percent.
Though the increase was anticipated in financial markets, inflation remains below the European Central Bank’s goal of just below 2 percent. “The ECB is unlikely to be in any hurry to exit from its ultra-expansionary policy,” said Christoph Weil, an analyst at Commerzbank.
As part of that program, the ECB is pumping 60 billion euros ($71 billion) a month into the eurozone economy, a program that is intended to run until the end of the year, or beyond if necessary.
The ECB has insisted that the policy will remain in place until policymakers have seen a “sustained adjustment in the path of inflation consistent with its inflation aim.”
That’s not ideal for a central bank aiming to stoke price pressures in the economy.
Eurostat also reported Thursday that the core rate, which strips out potentially volatile items such as food and energy, was unchanged at 1.2 percent, a sign of stubborn underlying inflation pressures.
Cathal Kennedy, European economist at RBC Capital Markets, thinks that the ECB will reduce the amount of its monthly purchases largely for technical reasons but refrain from announcing an end-date for its asset purchases while reinforcing its message that interest rates will remain low.
Separately, Eurostat reported that unemployment across the eurozone was unchanged at 9.1 percent in July, its lowest level since February 2009.
Of the 19 eurozone members, Germany has the lowest unemployment rate at 3.7 percent, while Greece has the highest at 21.7 percent, though that relates to May.

U.S. Jobless Claims Rose Last Week.
WASHINGTON-The number of Americans applying for first-time unemployment benefits rose last week, though overall numbers remain consistent with steady job gains.
Initial jobless claims, a proxy for layoffs across the U.S., rose 1,000 to a seasonally adjusted 236,000 in the week ended Aug. 26, the Labor Department said Thursday.
Economists surveyed by The Wall Street Journal had forecast 236,000 new claims.
Initial claims have hovered in a historically low range for several years.
They have remained below 300,000 for 130 consecutive weeks, the longest such streak since 1970.
As a share of the workforce, the layoff proxy is trending at the lowest level on records back to the 1960s.
The number of claims drawn by workers for longer than a week–so-called continuing claims–fell 12,000 to 1.942 million in the week ended Aug. 19.
The persistently low level of layoffs is one sign the labor market is tightening and may be at or near the level that economists consider maximum employment.
The Labor Department releases the August employment report Friday, and economists expect that the economy added 179,000 jobs in August and that the unemployment rate remained at 4.3%.

August employment report likely to show U.S. kept pumping out jobs in late summer.
Economists polled by MarketWatch expect another steady gain in hiring in August: They predict 170,000 jobs were added last month.
The unemployment rate is likely to stick to a 16-year low.
Here’s what to watch in the August employment report due Friday at 8:30 a.m. Eastern.
August surprise Take the preliminary August employment numbers with a grain of salt.
The jobless rate has fallen faster and further than virtually anyone would have expected a few years ago, matching a 16-year low of 4.3% in July.
The U-6 includes people who can only find part-time jobs and those who stopped looking for work after getting discouraged.
If so, overall U.S. hiring could prove to be weaker in the back end of 2017 after a surprisingly strong first half of the year.
So far the economy has added an average of 184,000 a month in 2017, nearly matching the gains in 2016.
Economists have long been predicting a slower pace of hiring, and job growth is bound to slow soon with the labor market so tight.

US jobless claims rise marginally as labor market tightens.
The number of Americans filing for unemployment benefits rose slightly last week, pointing to sustained labor market strength that should continue to support the economy.
Initial claims for state unemployment benefits increased by 1,000 to a seasonally adjusted 236,000 for the week ended Aug. 26, the Labor Department said on Thursday.
Data for the prior week was revised to show 1,000 more applications received than previously reported.
Claims have now been below 300,000, a threshold associated with a robust labor market, for 130 consecutive weeks.
That is the longest such stretch since 1970, when the labor market was smaller.
But upcoming reports could be impacted by Tropical Storm Harvey, which has devastated parts of Texas.
Economists polled by Reuters had forecast claims rising to 237,000 in the latest week.
The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell by 1,250 to 236,750 last week, the lowest reading since May.
(Reporting by Lucia Mutikani; Editing by Paul Simao)

About

DisabilityNews.Today provides information about Social Security and Veterans disability benefits. If you need help finding an attorney or advocate, we can connect you with one of our legal or advocacy partners.

Disclamer

The content on this site is aggregated content owned by the third parties credited in each summary. A link to the original source and attribution are provided in each article. The content provided is for informational purposes only and there is no guarantee of its accuracy. Your use of this website constitutes acceptance of the Privacy Policy, and Cookie Policy.

This website is an ADVERTISEMENT. The Social Security disability information you obtain at this site is not, nor is it intended to be, legal advice, and should be used for INFORMATIONAL PURPOSES ONLY. Utilizing this website or contacting us does not create an attorney-client relationship. You should consult an attorney for advice regarding your individual situation. Disability News Today is neither affiliated with nor endorsed by the Social Security Administration or any other government entity or agency. Your claim may be assigned to another reputable representation organization for service. Disability News Today is not a law firm.
The content on this site is aggregated content owned by the third parties credited in each summary. A link to the original source and attribution are provided in each article. The content provided is for informational purposes only and there is no guarantee of its accuracy. Your use of this website constitutes acceptance of the Privacy Policy, and Cookie Policy.